If goldcompanies were rushing then the price wouldn't have been stagnant for this long. These are articles that are trying to hype things a little extra which isn't bad really.
Fact is we are in range $400 - $670 range for already 7 months. Hopefully september can bring some change and take us above $700 again.
Topic: Gold Companies are Rushing into Bitcoin (Read 2413 times)
I think it is feasible for every investor to have small portion invested in bitcoin, especially gold bug could embrace the idea of bitcoin. There is so much upside in bitcoin, and bitcoin should work as a very good diversification strategy for open minded investors.
Well if it was true, the BTC price, would have skyrocketed to $10 000+ per BTC
If only a small percentage of the gold investors convert to BTC you would see the biggest rise in the BTC price, since it's existence.
But people love the shiny yellow metal too much. {They need to invest in something they can touch, even if they cannot lift it.}
I see loads of companies targeting BTC hoarders to buy gold and that worries me, more.
If only a small percentage of the gold investors convert to BTC you would see the biggest rise in the BTC price, since it's existence.
But people love the shiny yellow metal too much. {They need to invest in something they can touch, even if they cannot lift it.}
I see loads of companies targeting BTC hoarders to buy gold and that worries me, more.
Cool, thanks for the share. Hope BTC really becomes like gold in futue 
Obviously I am a fan of bitcoin and hope the price goes up. While I think it's great that more companies are looking into trading bitcoin I don't think it will have much acceptance as a gold substitute. While I think of bitcoin as "electronic gold" the simple fact is that it's price is far too volatile to be a good store of value at this point. Maybe some day, but not anytime soon. Most defenses of bitcoin's value I see now are focused on the value of the network.
I do worry that the rise of ETFs, which I think are great and will help the price, may encourage more fractional reserve type activities that in turn bring bitcoin additional negative attention.
I do worry that the rise of ETFs, which I think are great and will help the price, may encourage more fractional reserve type activities that in turn bring bitcoin additional negative attention.
It's really a good article. If more and more companies are involved soon bitcoin will be the mainstream in the current market.
gold is getting killed by the etfs and gold exhanges which dont have gold but paper gold
there is about 100 contracts of paper gold to 1 physical in the paper exchanges
making the price of gold artificially low
bitcoin should avoid or be careful of making these paper exchanges where price is discovered
there is about 100 contracts of paper gold to 1 physical in the paper exchanges
making the price of gold artificially low
bitcoin should avoid or be careful of making these paper exchanges where price is discovered
not sure if that is good, bad, or indifferent for bitcoin.
Very nice read. More people should read this.
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
gold is getting killed by the etfs and gold exhanges which dont have gold but paper gold
there is about 100 contracts of paper gold to 1 physical in the paper exchanges
making the price of gold artificially low
bitcoin should avoid or be careful of making these paper exchanges where price is discovered
there is about 100 contracts of paper gold to 1 physical in the paper exchanges
making the price of gold artificially low
bitcoin should avoid or be careful of making these paper exchanges where price is discovered
not sure if that is good, bad, or indifferent for bitcoin.
gold is getting killed by the etfs and gold exhanges which dont have gold but paper gold
there is about 100 contracts of paper gold to 1 physical in the paper exchanges
making the price of gold artificially low
bitcoin should avoid or be careful of making these paper exchanges where price is discovered
there is about 100 contracts of paper gold to 1 physical in the paper exchanges
making the price of gold artificially low
bitcoin should avoid or be careful of making these paper exchanges where price is discovered
"The gold market is currently valued at approximately $7 trillion while the value of the total number of Bitcoin ever mined currently stands at approximately $8 billion, making up just above 1% of the gold market."
That's 0.1%, guys
That's 0.1%, guys
5% of the gold market right now would make each bitcoin worth about $27000
It isn't a stretch to see it getting that far in the next 5 years or so. Especially if the etfs and oil rumors start happening.
Do you know they can soon buy bitGold on the BitShares Blockchain?
"The gold market is currently valued at approximately $7 trillion while the value of the total number of Bitcoin ever mined currently stands at approximately $8 billion, making up just above 1% of the gold market."
That's 0.1%, guys
That's 0.1%, guys
5% of the gold market right now would make each bitcoin worth about $27000
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
"The gold market is currently valued at approximately $7 trillion while the value of the total number of Bitcoin ever mined currently stands at approximately $8 billion, making up just above 1% of the gold market."
That's 0.1%, guys
That's 0.1%, guys
5% of the gold market right now would make each bitcoin worth about $27000
sr. member
Activity: 448
Merit: 250
It's Money 2.0| It’s gold for nerds | It's Bitcoin
Quote
Considering the similarities between gold and Bitcoin, many expect Bitcoin and other cryptocurrencies to take some of the market share of gold and other precious metals due to its superiority in ease of transport and a more convenient means of transfer. This new rush of gold companies into Bitcoin seems to validate these views. Leading to more professional companies taking over less secure, less organized, and worse managed bitcoin companies that dominated the early years of Bitcoin, paving the way for institutional and retail investors, as well as enticing further the ordinary man, to invest in Bitcoin.
Most important and enlightening part of the article. Bring on the ETFs, the Gold Bugs, companies offering discounts for using Bitcoin and whatever else = market cap going^Sure, if bitcoin takes meaningful market share from any liquid market, it's price will rocket. But I don't quite understand how gold and bitcoin are similar. Is this just based on limited supply?
Quote
Considering the similarities between gold and Bitcoin, many expect Bitcoin and other cryptocurrencies to take some of the market share of gold and other precious metals due to its superiority in ease of transport and a more convenient means of transfer. This new rush of gold companies into Bitcoin seems to validate these views. Leading to more professional companies taking over less secure, less organized, and worse managed bitcoin companies that dominated the early years of Bitcoin, paving the way for institutional and retail investors, as well as enticing further the ordinary man, to invest in Bitcoin.
Most important and enlightening part of the article. Bring on the ETFs, the Gold Bugs, companies offering discounts for using Bitcoin and whatever else = market cap going^Sure, if bitcoin takes meaningful market share from any liquid market, it's price will rocket. But I don't quite understand how gold and bitcoin are similar. Is this just based on limited supply?
I think the perception is that they are similar. Both are viewed as a quasi currency that exist outside the realm of traditional banking and both are seen as an inflation hedge.
I see them as quite different myself.
...
My thinking is that BTC and gold compliment each other nicely. I have some BTC, but I own more gold, having bought on-and-off since the 1980s.
I have even bought gold with BTC (from goldsilverbitcoin.com), see my article from December:
http://goo.gl/pJM7UE
There are at least THREE other online companies who sell gold coins for BTC.
***
I am becoming more convinced that BTC is reasonably safe, stable and secure. And OK for even beginners like me (with proper homework). I am actively trying to increase by BTC holdings and to learn to obscure my trail from any nosy types (mixing services, a used computer from the pawnshop paid with cash, etc.)...
While I agree that BTC was created for transactions (and cheap fees as a bonus), BTC has a real role as a Store of Value (albeit volatile over any short-term) as well as giving anyone the ability to quietly move your wealth almost anywhere you want.
My thinking is that BTC and gold compliment each other nicely. I have some BTC, but I own more gold, having bought on-and-off since the 1980s.
I have even bought gold with BTC (from goldsilverbitcoin.com), see my article from December:
http://goo.gl/pJM7UE
There are at least THREE other online companies who sell gold coins for BTC.
***
I am becoming more convinced that BTC is reasonably safe, stable and secure. And OK for even beginners like me (with proper homework). I am actively trying to increase by BTC holdings and to learn to obscure my trail from any nosy types (mixing services, a used computer from the pawnshop paid with cash, etc.)...
While I agree that BTC was created for transactions (and cheap fees as a bonus), BTC has a real role as a Store of Value (albeit volatile over any short-term) as well as giving anyone the ability to quietly move your wealth almost anywhere you want.
Quote
Considering the similarities between gold and Bitcoin, many expect Bitcoin and other cryptocurrencies to take some of the market share of gold and other precious metals due to its superiority in ease of transport and a more convenient means of transfer. This new rush of gold companies into Bitcoin seems to validate these views. Leading to more professional companies taking over less secure, less organized, and worse managed bitcoin companies that dominated the early years of Bitcoin, paving the way for institutional and retail investors, as well as enticing further the ordinary man, to invest in Bitcoin.
Most important and enlightening part of the article. Bring on the ETFs, the Gold Bugs, companies offering discounts for using Bitcoin and whatever else = market cap going^Sure, if bitcoin takes meaningful market share from any liquid market, it's price will rocket. But I don't quite understand how gold and bitcoin are similar. Is this just based on limited supply?
I've been using portions of my mined BTC to buy in on silver and gold from amagimetals actually so i'm not all to surprised gold companies are doing the same with BTC they go hand in hand.
sr. member
Activity: 448
Merit: 250
It's Money 2.0| It’s gold for nerds | It's Bitcoin
Quote
Considering the similarities between gold and Bitcoin, many expect Bitcoin and other cryptocurrencies to take some of the market share of gold and other precious metals due to its superiority in ease of transport and a more convenient means of transfer. This new rush of gold companies into Bitcoin seems to validate these views. Leading to more professional companies taking over less secure, less organized, and worse managed bitcoin companies that dominated the early years of Bitcoin, paving the way for institutional and retail investors, as well as enticing further the ordinary man, to invest in Bitcoin.
Most important and enlightening part of the article. Bring on the ETFs, the Gold Bugs, companies offering discounts for using Bitcoin and whatever else = market cap going^Jump to: